EQT Corporation (EQT) Given a $80.00 Price Target at Cowen and Company
EQT Corporation (NYSE:EQT) has been given a $80.00 price objective by Cowen and Company in a research note issued on Wednesday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Cowen and Company’s target price indicates a potential upside of 26.86% from the stock’s current price.
Several other brokerages have also recently weighed in on EQT. Jefferies Group LLC reissued a “hold” rating and issued a $69.00 price objective on shares of EQT Corporation in a research note on Tuesday, July 4th. Scotia Howard Weill raised shares of EQT Corporation from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $87.00 price target on shares of EQT Corporation in a research report on Thursday, September 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $78.00 price target on shares of EQT Corporation in a research report on Thursday, July 20th. Finally, BidaskClub cut shares of EQT Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $79.82.
EQT Corporation (NYSE:EQT) traded up 0.19% on Wednesday, hitting $63.06. The stock had a trading volume of 2,979,347 shares. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The company’s 50 day moving average is $63.54 and its 200-day moving average is $60.62. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 2252.14 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The company had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. EQT Corporation’s revenue for the quarter was up 720.1% on a year-over-year basis. On average, analysts forecast that EQT Corporation will post $0.92 EPS for the current year.
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In related news, Director A. Bray Jr. Cary acquired 406 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were purchased at an average price of $65.24 per share, for a total transaction of $26,487.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EQT. Point72 Asset Management L.P. acquired a new stake in shares of EQT Corporation in the 1st quarter worth about $70,942,000. Renaissance Technologies LLC acquired a new stake in shares of EQT Corporation in the 1st quarter worth about $32,701,000. Aristotle Capital Management LLC raised its holdings in shares of EQT Corporation by 8.9% in the 1st quarter. Aristotle Capital Management LLC now owns 3,379,750 shares of the oil and gas producer’s stock worth $206,502,000 after acquiring an additional 276,368 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of EQT Corporation by 13.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after acquiring an additional 270,054 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of EQT Corporation by 6.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,142,162 shares of the oil and gas producer’s stock worth $184,099,000 after acquiring an additional 181,277 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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